CareDx, Inc. (NASDAQ:CDNA) Stock Has Average Price Target of $54.00

CareDx, Inc. (NASDAQ:CDNA) has been assigned a consensus recommendation of “Hold” from the eight research firms that are currently covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $57.00.

CDNA has been the subject of several analyst reports. Zacks Research lowered shares of CareDx from a “strong-buy” rating to a “hold” rating in a report on Friday, October 2nd. Canaccord Genuity Group upped their price target on shares of CareDx from $65.00 to $80.00 and gave the company a “buy” rating in a report on Monday. Weiss Ratings raised shares of CareDx from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. HC Wainwright reissued a “neutral” rating and issued a $46.00 price objective on shares of CareDx in a research note on Friday, July 31st. Finally, BTIG Research raised their price objective on shares of CareDx from $60.00 to $74.00 and gave the stock a “buy” rating in a research note on Thursday, September 24th.

Insider Activity at CareDx

In related news, Director Christine Cournoyer sold 16,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $46.94, for a total transaction of $751,040.00. Following the completion of the sale, the director directly owned 42,943 shares of the company’s stock, valued at approximately $2,015,744.42. This trade represents a 27.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director George Bickerstaff, III sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $46.28, for a total value of $925,600.00. Following the sale, the director directly owned 134,061 shares of the company’s stock, valued at $6,204,343.08. This represents a 12.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 2.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Reyes Financial Architecture Inc. bought a new stake in CareDx during the 3rd quarter valued at about $50,000. Nykredit A S bought a new stake in shares of CareDx during the second quarter valued at approximately $25,000. Integrated Wealth Concepts LLC bought a new stake in shares of CareDx during the second quarter valued at approximately $29,000. IFP Advisors Inc boosted its holdings in shares of CareDx by 1,158.0% in the third quarter. IFP Advisors Inc now owns 1,107 shares of the company’s stock valued at $72,000 after purchasing an additional 1,019 shares during the period. Finally, USA Financial Formulas purchased a new stake in shares of CareDx in the third quarter valued at approximately $97,000.

CareDx Stock Performance

NASDAQ:CDNA opened at $69.16 on Friday. The firm has a market capitalization of $3.58 billion, a PE ratio of 416.12 and a beta of 2.38. The stock’s fifty day moving average is $56.78 and its 200 day moving average is $37.71. CareDx has a fifty-two week low of $14.03 and a fifty-two week high of $72.71.

CareDx (NASDAQ:CDNA) last posted its quarterly earnings data on Thursday, July 30th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.23 by $0.14. CareDx had a net margin of 24.23% and a return on equity of 2.87%. The company had revenue of $131.95 million during the quarter, compared to analyst estimates of $114.05 million. During the same period in the previous year, the firm earned ($0.16) earnings per share. CareDx’s quarterly revenue was up 52.2% compared to the same quarter last year. Equities analysts forecast that CareDx will post 0.47 EPS for the current year.

CareDx Company Profile

CareDx, Inc is a healthcare diagnostics company focused on improving the care of organ-transplant patients. The company develops and commercializes noninvasive tests and digital tools intended to help physicians assess transplant-organ health, identify potential rejection, and support long-term patient management.

Its offerings include AlloSure donor-derived cell-free DNA tests for monitoring transplant recipients, AlloMap gene-expression testing for heart-transplant patients, and HeartCare, which combines AlloMap and AlloSure results.